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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    52590 Evergreen Rd Granger, IN 46530

    • Commercial real estate
    • 14.92 lot acres
    For Sale
    View listing
    $2,685,600
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-1842602
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 52590 Evergreen Rd

    Lot size
    14.92 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 14.92-acre commercial land parcel presents a unique investment opportunity in Granger, Indiana. Strategically located near Exit 83 of the Indiana Toll Road, this A-1 zoned property boasts significant frontage on Capital Avenue and the Toll Road exit. Its proximity to the University Park Trade Area and only five miles from the University of Notre Dame, which generates an annual economic impact of $2.5 billion, makes it an ideal site for a variety of commercial developments. The substantial lot size offers ample space for large-scale projects, benefiting from high visibility and convenient access to major transportation routes. The A-1 zoning provides flexibility for a range of commercial uses, making this property a compelling investment for developers seeking a high-impact location with strong growth potential in a thriving community. The address is 52590 Evergreen Rd, Granger, IN 46530, within St. Joseph County. The asking price for this significant land holding is $2,685,600.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Granger
    County
    St Joseph
    State
    Indiana
    Longitude
    -86.14934074487
    Latitude
    41.734178425474

    Comparable in this City

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    • $1,550,000
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    • $11,344,000
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      Mishawaka Commercial Land - $11.3M

      52 Acres, Prime Medical/Office Location
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    • $6,464,250
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      Granger Commercial Land Opportunity

      18.89 Acres, Prime Location, High Growth
      14154 Cleveland Rd, Granger, IN 46530
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    • $165,000
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      Residential Land in The Haven

      Corner lot to design your dream home in Granger, Indiana.
      51150 Mason James Dr, Granger, IN 46530
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    • $275,000

      Development Site Near University Drive

      15-acre development site in a growing corridor.
      53200 North Fir Rd, Granger, IN 46530
      View Details

    Similar Nearby for Sale

    • $409,500
      1.17 Acres

      University Drive Commercial Land

      1.17-acre development site, prime location.
      0 University Dr, Mishawaka, IN 46530
      View Details
    • $1,550,000
      11.14 Acres

      11 Acres Granger Residential Land

      Prime Granger land, investment potential.
      15199 Cleveland Rd, Granger, IN 46530
      View Details
    • $11,344,000
      52.20 Acres

      Mishawaka Commercial Land - $11.3M

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      View Details
    • $6,464,250
      18.89 Acres

      Granger Commercial Land Opportunity

      18.89 Acres, Prime Location, High Growth
      14154 Cleveland Rd, Granger, IN 46530
      View Details
    • $165,000
      0.87 Acres

      Residential Land in The Haven

      Corner lot to design your dream home in Granger, Indiana.
      51150 Mason James Dr, Granger, IN 46530
      View Details
    • $275,000

      Development Site Near University Drive

      15-acre development site in a growing corridor.
      53200 North Fir Rd, Granger, IN 46530
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Prime Land in Toscana Park

      0.73 acres available for lease in University Park Trade Area.
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      Granger Office Space For Lease

      Modern Office Suites Available Now
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    • $16 SF/Yr
      19,536 SF

      Time Square Retail Space Available

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      136,430 SF

      University Crossing Retail Center

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      1,991 SF

      Retail Space in Heritage Square

      Open-air lifestyle center in high-income area with stable growth.
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    • $13 SF/Yr
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      Granger Retail Space For Lease

      Prime retail space, 4,008 sq ft.
      12650 Adams Rd, Granger, IN 46530
      View Details
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    52590 Evergreen Rd
    Granger, IN 46530
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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